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YTD or 15%. The increase in medical expense is largely driven by the increase in premium <br /> costs. <br /> General Expenses of$21,801 are 168%more than the prior year, but are 35%below budget <br /> YTD. The main driver causing this variance is that we exhausted the commercial rebates from <br /> GRE and self-funded the last part of the year. YTD costs are similar to prior YTD. <br /> For expenses, in total they are 3% less than the prior year, but are above prior YTD by 5%, and <br /> under budget YTD by 2%. <br /> For December 2017,the Electric Department has a Net Loss of$420,711 and YTD Net Income <br /> of$1,937,702. This is less than the budgeted monthly Net Income of$22,608 but ahead of the <br /> prior year monthly Net Loss of$1,299,605. It is above prior YTD Net Income of$1,888,424, <br /> and it is ahead of budgeted YTD Net Income of$988,982. ($433,480 represents net income in <br /> 2016 due to the security sale and security income generated in 2016.) <br /> Water P&L <br /> The Water Department also continues to be ahead of budgeted YTD Net Income. <br /> December gallons of water sold (from November's usage) are up 10% from the prior year. For <br /> further breakdown: <br /> • Residential use up 11% <br /> • Commercial use up 9% <br /> Water Operating Revenues for December of$129,061 are up from last year by 10% and above <br /> budget by 8%. Operating Revenue is 6%above prior YTD, and is 4%above YTD budget. <br /> Other Revenues of$41,246 are behind the prior year by 90%due to the Transfer in from City <br /> last year, and ahead of prior YTD by 13%. Other Revenues are also ahead of YTD budget by <br /> 226%,with the main driver being an increase in WAC Fees of$384,657 from the prior year. <br /> Overall, Total Revenues of$170,308 are behind the prior year by 67%,but are ahead of prior <br /> YTD by 8%. As previously stated WAC Fees and Transfer in from City are the driving force. <br /> YTD Total Revenues are ahead of budget by 35%. <br /> Expenses are behind the prior year by 9%, and are under YTD budget by 8%. <br /> For December 2017, the Water Department has a Net Loss of$54,265, which is behind last <br /> year's Net Income of$276,250. December YTD Net Profit is $777,657 which is ahead of the <br /> prior YTD Net Profit of$595,750, and is significantly ahead of the budgeted YTD Net Loss of <br /> $338,406. <br /> ATTACHMENTS: <br /> • Balance Sheet 12.2017 <br /> Page 2 of 3 <br /> 120 <br />